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Postretirement Benefits (Note)
 12 Months Ended
Dec. 31, 2023
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]  
Defined Benefit Plan
U.S. POSTRETIREMENT BENEFITS

International Paper provides certain retiree health care and life insurance benefits covering certain U.S. salaried and hourly employees. These employees are generally eligible for benefits upon retirement and completion of a specified number of years of creditable service. International Paper does not fund these benefits prior to payment and has the right to modify or terminate certain of these plans in the future.

In addition to the U.S. plan, certain Moroccan employees are eligible for retiree health care and life insurance benefits.

The components of postretirement benefit expense in 2023, 2022 and 2021 were as follows: 

In millions202320222021
U.S.
Plans		Non-
U.S.
Plans		U.S.
Plans		Non-
U.S.
Plans		U.S.
Plans		Non-
U.S.
Plans
Service cost$— $— $— $— $— $— 
Interest cost7 — 5 — 5 1 
Actuarial loss— — 3 — 5 1 
Amortization of prior service credits— — — — — (2)
Net postretirement expense$7 $— $8 $— $10 $— 

International Paper evaluates its actuarial assumptions annually as of December 31 (the measurement date) and considers changes in these long-term factors based upon market conditions and the requirements of employers’ accounting for postretirement benefits other than pensions. The discount rate assumption was determined based on a hypothetical settlement portfolio selected from a universe of high-quality corporate bonds.

The discount rates used to determine net U.S. and non-U.S. postretirement benefit cost for the years ended December 31, 2023, 2022 and 2021 were as follows: 

202320222021
U.S.
Plans		Non-
U.S.
Plans		U.S.
Plans		Non-
U.S.
Plans		U.S.
Plans		Non-
U.S.
Plans
Discount rate5.50 %5.70 %2.90 %5.20 %2.50 %6.91 %
The weighted average assumptions used to determine the benefit obligation at December 31, 2023 and 2022 were as follows: 

20232022
U.S.
Plans		Non-
U.S.
Plans		U.S.
Plans		Non-
U.S.
Plans
Discount rate5.20 %6.10 %5.50 %5.70 %
Health care cost trend rate assumed for next year7.00 %4.00 %7.25 %4.00 %
Rate that the cost trend rate gradually declines to5.00 %4.00 %5.00 %4.00 %
Year that the rate reaches the rate it is assumed to remain2032202320322023

The plans are only funded in an amount equal to benefits paid. The following table presents the changes in benefit obligation and plan assets for 2023 and 2022: 

In millions20232022
U.S.
Plans		Non-
U.S.
Plans		U.S.
Plans		Non-
U.S.
Plans
Change in projected benefit obligation:
Benefit obligation, January 1$125 $4 $172 $5 
Service cost— — — — 
Interest cost7 — 5 — 
Participants’ contributions2 — 3 — 
Actuarial (gain) loss8 — (33)— 
Benefits paid(24)— (23)— 
Less: Federal subsidy— — 1 — 
Currency Impact— — — (1)
Benefit obligation, December 31$118 $4 $125 $4 
Change in plan assets:
Fair value of plan assets, January 1$— $— $— $— 
Company contributions22 — 20 — 
Participants’ contributions2 — 3 — 
Benefits paid(24)— (23)— 
Fair value of plan assets, December 31$— $— $— $— 
Funded status, December 31$(118)$(4)$(125)$(4)
Amounts recognized in the consolidated balance sheet under ASC 715:
Current liability$(13)$— $(15)$— 
Non-current liability(105)(4)(110)(4)
 $(118)$(4)$(125)$(4)
Amounts recognized in accumulated other comprehensive income (loss) under ASC 715 (pre-tax):
Net actuarial loss (gain)$2 $(1)$(6)$(1)
Prior service credit— — — — 
 $2 $(1)$(6)$(1)

The non-current portion of the liability is included with the postemployment liability in the accompanying consolidated balance sheet under Postretirement and postemployment benefit obligation.

The components of the $8 million and $0 million change in the amounts recognized in other comprehensive income ("OCI") during 2023 for U.S. and non-U.S. plans, respectively, consisted of: 

In millionsU.S.
Plans		Non-
U.S.
Plans
Current year actuarial (gain) loss$8 $— 
Amortization of actuarial (loss) gain— — 
 $8 $— 

The portion of the change in the funded status that was recognized in net periodic benefit cost and OCI for the U.S. plans was $(2) million, $44 million and $27 million in 2023, 2022 and 2021, respectively. The portion of the change in funded status for the non-U.S. plans was $0 million, $0 million, and $1 million in 2023, 2022 and 2021, respectively.

At December 31, 2023, estimated total future postretirement benefit payments, net of participant contributions and estimated future Medicare Part D subsidy receipts, were as follows: 

In millionsBenefit
Payments		Subsidy ReceiptsBenefit
Payments
U.S.
Plans		U.S.
Plans		Non-
U.S.
Plans
2024$14 $1 $— 
202513 1 — 
202612 1 — 
202711 1 — 
202811 1 — 
2029– 203345 2 1